According to reports, Coinbase executive Dan Romero is stepping away from his role as vice president of international business. His departure will bring the number of executives to leave the company in the last six months to three.
Another Coinbase Executive Leaves
Romero announced in a Medium post earlier today that he will be leaving the crypto exchange at the end of April. He joined Coinbase in April 2014.
The Coinbase executive didn’t give a specific reason for his departure but simply said he was “planning to take some time to figure out what’s next.” And further:
“Staying true to a mission often requires doing hard (or even unpopular) things. But I’ve been lucky to learn first-hand that it’s those hard things that often generate the most value.”
In the five years he has been with Coinbase, Romero has seen the staff grow to over 700, from its earlier-days headcount of only 20.
What’s Going On?
Coinbase is one of the world’s largest and most popular cryptocurrency exchanges. It raised over $300 million in 2018 and has a current valuation of $8 billion. Despite its rockstar status, there have been an unusual amount of departures in recent times—as stated, Romero is the third Coinbase executive to leave in six months.
Its director of institutional sales, Christine Sandler, left the firm two weeks ago. She opted for a role with Fidelity Investments, one of the world’s largest financial services providers. Then, in earlier 2019, Soups Ranjan, director of data science and risk, left, as did senior compliance manager Vaishali Mehta.
Further, it’s estimated that around nine other senior or mid-level employees have left since its October fundraiser.
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Best Places to Work?
The news is somewhat ironic considering Coinbase recently made LinkedIn’s top 50 US places to work list. Hitting the list at number 35, the firm beat out financial players such as JP Morgan. It was also the only cryptocurrency relative company to feature on the list.
Do you think there’s an issue that caused this Coinbase executive to leave? Or is it a simple case of bad timing?
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